Nidec to Pay Preferential 10% Tax Rate in Viet Nam

Japan's Nidec Corp., the world's biggest maker of motors for computer hard-disk drives, will pay a preferential tax rate in Viet Nam of 10%, according to a statement posted on the government's Web site.

Prime Minister Nguyen Tan Dung approved the preferential tax for all projects by Kyoto-based Nidec at an industrial park in Ho Chi Minh City, the statement said.

Vietnam's corporate tax is currently 28%. The rate will be reduced to 25% from Jan. 1, according to the tax policy department of the Ministry of Finance. (Bloomberg)